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over ten years, just about 12 percent of the two and a half trilon the budget committee estimatethe law will cost of that time. here we go. 2013 looks le an interesting, interesting yer. this year the mighty mississippi river lmost too shallow to even move barges, barges carrying food, fuel, other commoties. right now it is very difficult passage on the mississippi. warm weather, drought, the reason the army corps of engineers typically would be releasing more water into the river from the misuri allow one barges to pass fo another month so, but the missouri river is also dramatically lowered to be this means billions of dollars of commerce will have to find alternative means to get to maket. the midwest drought has increased the value. so much so there is a sharp increa in the theft of hay from fields. some farmers have resorted to putting gps tacking devices n those bales so that tey can track a stolen. up net, hou peaker turning -- runing into medical opposition over his proosals. democrats sending mixed signals over what is n the negotiating table. that's right. and the "a-team" wil
over ten years, just about 12 percent of the two and a half trilon the budget committee estimatethe law will cost of that time. here we go. 2013 looks le an interesting, interesting yer. this year the mighty mississippi river lmost too shallow to even move barges, barges carrying food, fuel, other commoties. right now it is very difficult passage on the mississippi. warm weather, drought, the reason the army corps of engineers typically would be releasing more water into the river from the...
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we had two changes that we made in the law to keep them from doing that. one was a section that said you can no longer use our readiness dollars to buy all this fuel and all this stuff. and then, we also have had a prohibition against using defense dollars to build refineries. that can be done in the private sector. well on the floor there was an amendment, pretty much down party lines. mark udall had one amendment and hagen had the other one, to kill our efforts, to keep them from using our defense dollars for a green agenda. melissa: does anybody at the white house understand when people are upset having their taxes raised, there are a lot of people out there that want to raise everybody's taxes when you get upset about having your own taxes raised we see ridiculous spending like this going on. if you can't spend my tax dollars responsibly for things that make sense, i don't want to send you anymore. does anyone get that sentiment? >> no, they don't get that sentiment. that is the problem. the excuse they use for this. this is kind of interesting. this w
we had two changes that we made in the law to keep them from doing that. one was a section that said you can no longer use our readiness dollars to buy all this fuel and all this stuff. and then, we also have had a prohibition against using defense dollars to build refineries. that can be done in the private sector. well on the floor there was an amendment, pretty much down party lines. mark udall had one amendment and hagen had the other one, to kill our efforts, to keep them from using our...
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what about a right to work law? straight ahead. [beep] [indistinct chatter] [kids talking at once] [speaking reign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing louder] ♪ i'm feeling better since you know me ♪ ♪ i was a lonely soul, but that's the old me... ♪ announcer: this song was created with heartbeats of children in need. find out how it can help frontline health workers bring hope to millions of children at everybeatmatters.org. lou: the staffs of both president obama and house speaker boehner are talking, but there is still no word of progress on the so-called fiscal cliff or the president's ultimatum. silence indicate a deal in the works or something too ugly for them to contemplate?@ we'll have the latest for you from the white house. white house correspondent ed henry here in just moments, but, first, the money line in hoping washington might get a deal done driving a modestly bullish mood on wall street at the end of the session. investors cheering news in a decline in
what about a right to work law? straight ahead. [beep] [indistinct chatter] [kids talking at once] [speaking reign language] [heart beating] [heartbeat continues] [faint singing] [heartbeat, music playing louder] ♪ i'm feeling better since you know me ♪ ♪ i was a lonely soul, but that's the old me... ♪ announcer: this song was created with heartbeats of children in need. find out how it can help frontline health workers bring hope to millions of children at everybeatmatters.org. lou:...
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the law of diminishing returns. or not getting the bang for our buck like we used to get. tracy: clearly not. clearly the stock market is the gauge of the success of quantitative easing. more than the first couple of rounds and happe in the happen k the big boost housing is because prices are starting to increase not as much on the mortgage side. we have record low mortgage rates with prices going up and that is the double incentive for homebuyers. you could argue that is more at play than what the fed has done. the fed will do something is to ultimately if we look back and said that was the elixir for the -@economy, less sure about that. tracy: that to get people out on the weekend looking at homes again. >> the chairman of our firm, that has been in view he has expressed fairly publicll certainly long-term unintended consequences keeping interest rates down so low. they have promised they will keep rates low until 2015, what is the rush. muscle to this thread with the right financial institution, why go out if my competitors are not doing it. there isn't the fire under m
the law of diminishing returns. or not getting the bang for our buck like we used to get. tracy: clearly not. clearly the stock market is the gauge of the success of quantitative easing. more than the first couple of rounds and happe in the happen k the big boost housing is because prices are starting to increase not as much on the mortgage side. we have record low mortgage rates with prices going up and that is the double incentive for homebuyers. you could argue that is more at play than what...
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what about a right to work law? straight ahead. the boys use capital one venture miles for thr annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. buwith the capital one venture card you get double miles you can actually use. [ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? hut! i have me on my fantasy team. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, espially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acnen women may occur. report these signs and symptoms to your doctor if they occur. tell your ctor about all med
what about a right to work law? straight ahead. the boys use capital one venture miles for thr annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. buwith the capital one venture card you get double miles you can actually use. [ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? hut! i have me on my fantasy team. if you're a man with low...
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we need to change the laws. we need to eliminate the 2nd amendment. because one guy puts nine bullets into his wife, we need to change the laws for 300 million people. he did this. there's is a lack of -- the great issue, not just in the united states, but in the western world, is the urge to dodge personal responsibility. this guy is the beneficiary of one of the wealthiest most successful societies on earth. you should be responsible for your healthcare, and you should also be responsible if you go bananas and kill your wife, that's on your shoulders too. stuart: but you can't win an election telling the world, telling your country, your voters that you've got to be responsible for yourself, for your healthcare, take responsibility. we're going to cut this. you can't get elected in america these days. >> and this is the great issue. a book was written in 1908, the author said if you have big government, you basically end up with a nation of children. he wrote this, and that's essentially what we have now, a nation of adolescents where you're no long
we need to change the laws. we need to eliminate the 2nd amendment. because one guy puts nine bullets into his wife, we need to change the laws for 300 million people. he did this. there's is a lack of -- the great issue, not just in the united states, but in the western world, is the urge to dodge personal responsibility. this guy is the beneficiary of one of the wealthiest most successful societies on earth. you should be responsible for your healthcare, and you should also be responsible if...
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d they do so rejecting that law, that bill andprevent it from becoming law because they want to have a lottery. for crying out loud. the absurdities compound themselves. >> in generawe have t recognize that the individual entrepreneur with special sklls and contributions to american produce all the jobs, and they are the ones who are getting rich, who are punished by any increase in marginal tax rates. the already rich -- lou: what abou the young man or woman in this country who is not an entrepreneur, is not a big shot, is not in middle management in a big corporation. they won a break. they wo an opportunity. they want to live the american dream. why can't the republicans talk to them? >> i hink that they are being talked to. a great speech the other day in which he specifically addressed this aspiration, widespread among all americans to rise up. this is what supply-side economics is. it is surge of economics. it is not trickle-wn as som people caricatured. lou: you have heard that expression for 30 years. >> i never said it. lou: i'm amazed to hear the phrase escape ... but you m
d they do so rejecting that law, that bill andprevent it from becoming law because they want to have a lottery. for crying out loud. the absurdities compound themselves. >> in generawe have t recognize that the individual entrepreneur with special sklls and contributions to american produce all the jobs, and they are the ones who are getting rich, who are punished by any increase in marginal tax rates. the already rich -- lou: what abou the young man or woman in this country who is not an...
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also the case with congress, they pass a law and the irs has to handle it. you can imagine it will start blowing the circuits at the irs on this thing. it is a tax on top of a tax. it is surtax. a brand new form taxpayers will be hit with. 159 pages of rules might be even higher than that. they're still deciding whether to slap this tax on rental income. that is now a big debate. david: i hadn't heard that. >> that would be a big news item if congress decides to do that. it is 159 pages of rules because it covers, stocks, bonds, derivatives, commodities, all sorts of trades. they will be not so tough to go to. it is pretty clear. but just one other thing you have to be aware of. while the irs is saying they won't hit you with penalties in obamacare for the new taxes but they can with hold your refund or ding your refund. that can be annoying. my guys at irs says they will have to digest obamacare. irs is having one to deal with. circuits will be blown at agency as this gradually comes online. 3.8% surtax on cap gains and dividends will be possibly more than
also the case with congress, they pass a law and the irs has to handle it. you can imagine it will start blowing the circuits at the irs on this thing. it is a tax on top of a tax. it is surtax. a brand new form taxpayers will be hit with. 159 pages of rules might be even higher than that. they're still deciding whether to slap this tax on rental income. that is now a big debate. david: i hadn't heard that. >> that would be a big news item if congress decides to do that. it is 159 pages...
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under the current law this is perfectly legal. our "money" power panel is back to discuss economist peter morici. jonathan hoenig from capitalist pig.com and ian shepherd son from pantheon macro advisors. guys, what do you think? this is serious idea out there being float the around. we have the peterson institute, they're a bunch of serious folks out there saying i like it. there is nothing obviously economic problematic bit. what do you think? peter, i let you go first. >> i'm surprised. there is a lot that problematic. it is equivalent of printing money. melissa: right. >> essentially that's all it is. basically make a coin. hand it to the federal reserve and turns around and put as trillion dollars in your bank account which you stt spending. a way around the debt ceiling problem. it gives barack obama the right to print money to spend as much as he wants to. melissa: there is one catch, ian. one point they make we're not printing it to spend money. we already spent this mon. it's gone. so we're just sort of fixing part of the
under the current law this is perfectly legal. our "money" power panel is back to discuss economist peter morici. jonathan hoenig from capitalist pig.com and ian shepherd son from pantheon macro advisors. guys, what do you think? this is serious idea out there being float the around. we have the peterson institute, they're a bunch of serious folks out there saying i like it. there is nothing obviously economic problematic bit. what do you think? peter, i let you go first. >> i'm...
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we go to court and bankruptcy law versus pension law. you can see current services cut. tax hikes and other lousy outcomes if we don't see reforms. >> you admit we are having problems paying out the pensions. they are bankrupting. >> the pblem is that los angeles is not the place. and it is a ballot initiative. you have front runners that become mayor . they will not support it it was a nonstarter and never going to work in thetave . you have a better chance of succeeding. >> at least it was a plan . it is no law that said you cannot change 401 k's. that is future and new hires and for their plans. you don't have ill defed benefits and by the way the private sector doesn't get. there is a pension liabity in the state of the california. vicki is right. government services are starting to get cut in cities in california . so i tell you, it doesn't cut it when you have things like let's raise the retirement age to age 52. >> the fact is, these things are going broke. right now the budget 26 percent of la's budget is consumed by the budget cuts and what are you going to do?
we go to court and bankruptcy law versus pension law. you can see current services cut. tax hikes and other lousy outcomes if we don't see reforms. >> you admit we are having problems paying out the pensions. they are bankrupting. >> the pblem is that los angeles is not the place. and it is a ballot initiative. you have front runners that become mayor . they will not support it it was a nonstarter and never going to work in thetave . you have a better chance of succeeding. >>...
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movement replacing the assad regime, which is creating a islamic radical bloc that believes in sharia law, oppresng women and oppressinguman rights and rising who believe it is their right and duty to fight israel and eliminate the state of israel. israel will have enemies on the syrian border, lebanese border, gaza the south and egypt and sinai are fighting israel and shelling israel. if we come back to israel's aid it is very bad for israel and america at the same time. melissa: a lot of people said when the arab spring was coming to fruition, this was a wonderful day and new day for democracy in the middle east. there were a few voices at that time said hang on, the guys coming in to replace them are even mored are call than what we saw. this is actually moving in the opposite direction than you think. how did that happen? why did hat happpn because it is continuing? >> because americ and president obama's administration ignored the warning signs and what the muslim brotherhood and what radicals are about. when president obama first becameme president and he went to egypt and gave his
movement replacing the assad regime, which is creating a islamic radical bloc that believes in sharia law, oppresng women and oppressinguman rights and rising who believe it is their right and duty to fight israel and eliminate the state of israel. israel will have enemies on the syrian border, lebanese border, gaza the south and egypt and sinai are fighting israel and shelling israel. if we come back to israel's aid it is very bad for israel and america at the same time. melissa: a lot of...
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look at the minimum wage laws from the country. is impossible for employers to hire young people and minorities. the minimum wage law has lots of good intentions but the good intentions don't necessarily translate to good public policy. young people can't find internships or get resources they need to succeed in the job market. stuart: you are making a lot of sense but i ask you this. to you think you could get elected to any office in the united states of america today if you said we're going to lower the minimum wage or abolish it and do away with saying your parent's health-care insurance into your 26 and do away with unemployment insurance and do away with the earned income tax credit. could you get elected? >> it is not always about what is electrolyte favorable but i will tell you this. a way not to get elected is talk about only social issues. we have a real fiscal conversation in this country and not do what pecan and murdoch didn't talk about free market ideals and morality of capitalism we will see people understand we're
look at the minimum wage laws from the country. is impossible for employers to hire young people and minorities. the minimum wage law has lots of good intentions but the good intentions don't necessarily translate to good public policy. young people can't find internships or get resources they need to succeed in the job market. stuart: you are making a lot of sense but i ask you this. to you think you could get elected to any office in the united states of america today if you said we're going...
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they have a habit of persuading, not using the force of law, not using a subpoena. persuading telecoms to give them access to their information about us. it is interesting. about six months before he resigned, general petraeus gave the private speech and the transcript was leaked to a group of telecom executives saying we will soon know whatever what is doing in the house whenever we want to know. he apparently knew more about it than he wanted. connell: i am picturing -- >> verizon claims we will like this. who wants big brother in the living room? dagen: ultimately, down the road, what is your option? >> you could tell them to go take a hike. you could do that by saying, no, i do not want your equipment in my house. dagen: if you are a suspicious person, do you trust the box in your house. you could say to verizon, i will go to another provider, if you live in an area where you have another choice. i live in new york city so i have a lot of other choices. dagen: google is working on something. dagen: that was like four years ago. when a private entity does it, we
they have a habit of persuading, not using the force of law, not using a subpoena. persuading telecoms to give them access to their information about us. it is interesting. about six months before he resigned, general petraeus gave the private speech and the transcript was leaked to a group of telecom executives saying we will soon know whatever what is doing in the house whenever we want to know. he apparently knew more about it than he wanted. connell: i am picturing -- >> verizon...
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he maybe it would not have done it if it was not for that. >> the emergency managers law. connell: the idea that he is in support of it. [talking over each other] connell: is the union movement, you know, is it over, is the tide turning? >> first of all, the second biggest organizing drive in the u.s. history, yes, you are right. today, even with the decline in unionization, it is about 13, 14%, which is about double the national average. yes, it is. this is not, for instance, and southern states, where you have the right to work and you do not have unions anyway. dagen: does it have a wider impact, does it continue to spread? >> well -- dagen: this is the 24th state. >> it will never happen in new york or a place like new jersey. they do not have the legislatures that will pass this. let's be realistic about it. all you have to do is look at a map of america and you would understand that. there are limits as to how far it will spread. we have a really historic battle among the states. it is a battle over tax rates. for all of this talk about tax increases, you have places
he maybe it would not have done it if it was not for that. >> the emergency managers law. connell: the idea that he is in support of it. [talking over each other] connell: is the union movement, you know, is it over, is the tide turning? >> first of all, the second biggest organizing drive in the u.s. history, yes, you are right. today, even with the decline in unionization, it is about 13, 14%, which is about double the national average. yes, it is. this is not, for instance, and...
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any state with the law gets a subsidy, and they could collect up a half billion dollars if the fine is up. right now, it's $124 for violation. finally, the las vegas sands treated 40 wounded veterans and theer families to a three-day holiday vacation. the chairman is giving them the private plane to fly them into vegas. there's rooms, a cook out from omaha steaks, and tickets to the tim hill and faith concert. dennis: there's nothing like waking up to the smell of bacon in the morning, and, now, thanks to the next guest, carry that smell all day op your face. cheryl: the co-founder of jad foods and maker of bacon shaving cream and other bacon themed products. shaving cream is the novelty, once a year, look what we made? >> smells great, probably taste great. you shouldn't eat it. that should be on the warning label. @%nnis: don't you think you'll be sued by someone who fries to eat it? >> more likely to be eaten by bears. dennis: i'd say you're wrong about that. cheryl: a lot of successful products about that. the bacon salt, i mean, are we in love with bacon? >> we're a bacon nation.
any state with the law gets a subsidy, and they could collect up a half billion dollars if the fine is up. right now, it's $124 for violation. finally, the las vegas sands treated 40 wounded veterans and theer families to a three-day holiday vacation. the chairman is giving them the private plane to fly them into vegas. there's rooms, a cook out from omaha steaks, and tickets to the tim hill and faith concert. dennis: there's nothing like waking up to the smell of bacon in the morning, and,...
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that behavior's driven by changes in the tax code that are existing law. he's counting on people not paying attention to that. it's the holidays, that's right. they are preparing for christmas, but they have to be worried # about the tax code. gerri: a tax revolt. you'll get more of the same if december 31st passing and nobody does anything. i think everybody's right up to here with what's going on, and you are so nice to talk to us about it. really appreciate it, congressman. >> well, the president has a mandate to raise taxes. i won election. i didn't run on raising taxes on anybody. i have a mandate as well. gerri: all right, thank you, and should congress and president stay in washington until the cliff is resolved? log on, vote, and i'll share the results at the end of the show. put them in a room, lock the door, throw away the key. it's a thought. with negotiations stalled, thous out of town, going over the cliff? let's did douglas holtz-eakin, the former cbo director. doug, the house is gone. they are on vacation. how did the people leave? we have t
that behavior's driven by changes in the tax code that are existing law. he's counting on people not paying attention to that. it's the holidays, that's right. they are preparing for christmas, but they have to be worried # about the tax code. gerri: a tax revolt. you'll get more of the same if december 31st passing and nobody does anything. i think everybody's right up to here with what's going on, and you are so nice to talk to us about it. really appreciate it, congressman. >> well,...
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be careful what you say in a local police want a law, new law requiring that text messages be saved for two years. how do you feel about that? ever texted something you wish would go away right now? there is of course the privacy issue as well. well, here comes the judge. he will be new at 10 on this one. got it. shares of darden restaurants, they're down today and they're the company that runs olive garden, red lobster, and they're down a lot. why is that, nicole? >> this is not good news here, they did a ton of promotions and now they're saying the promotions didn't work and in turn they're expecting numbers for the earnings season that will be below the analyst expectations and they're expecting sales at the olive garden to be down 3.2%. and at red lobster, 2.7% so sales are weakening, the earnings per share below what they anticipated and so, now, the ceo, so interesting, we need to come up with a new plan and we are going to work on different promotion because the current quarter is disappointing. do you think? >> well, nicole, hold on a second. the promotions i'm not sure which re
be careful what you say in a local police want a law, new law requiring that text messages be saved for two years. how do you feel about that? ever texted something you wish would go away right now? there is of course the privacy issue as well. well, here comes the judge. he will be new at 10 on this one. got it. shares of darden restaurants, they're down today and they're the company that runs olive garden, red lobster, and they're down a lot. why is that, nicole? >> this is not good...
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law that. what is going on? dennis: wall street looking for torrid growth in sales when pandora reports today. profits not so much. wall street chief, pandora sailing at 6% according to $117 million. that is the good news but net income expected to drop 40% to $2 million. earnings per share could fall even more down 50%. the expectations are. pandora stock tumbled 4% last time i checked. maybe there's an upside surprise up 5% but stock down 50% since going public at $20 a share in june of last year and particularly wild ride. it is 12% after reporting upside results last quarter. what is the problem? some big guns may take aim at pandora's market. pandora and microsoft but also there is this. pandora pays a princely sum for music rights, performance fees and has a lot more than the other services. last year they brought in $275 million in revenue and it paid out half of that much in performance fees while it lost $20 million, paying $137 million performance fees but regular radio stations don't pay any performan
law that. what is going on? dennis: wall street looking for torrid growth in sales when pandora reports today. profits not so much. wall street chief, pandora sailing at 6% according to $117 million. that is the good news but net income expected to drop 40% to $2 million. earnings per share could fall even more down 50%. the expectations are. pandora stock tumbled 4% last time i checked. maybe there's an upside surprise up 5% but stock down 50% since going public at $20 a share in june of last...
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law this is shocking issue. this fuel is lauded as great for the environment and a good thing. some manufacture you ares are saying guess what, it will void your warranty if you use this fuel in certain cars . what do you make of this whole thing? >> melissa, what happened this is good example where the government mandates picking winners and losers and forcing decisions on the part of consumers which could be harmful to consumers. comment by aaa coming out to say the decision to allow for e15 blend or 15% of their gasoline to be derived from biofuels, in this case ethanol, the auto manufacturers have said they will not honor their warranties if people use this fuel which is potentially harmful to their engines. the automakers researched this. melissa: it is amazing because they say i void your warranty. >> yeah. melissa: can you imagine you buy the fuel and put it among the manufacturers, chrysler, gm, toyota, especially in older vehicles and look at your manufacturers website if you're in this group, what happens with the e15 the fuel separates and ethanol in there is highly
law this is shocking issue. this fuel is lauded as great for the environment and a good thing. some manufacture you ares are saying guess what, it will void your warranty if you use this fuel in certain cars . what do you make of this whole thing? >> melissa, what happened this is good example where the government mandates picking winners and losers and forcing decisions on the part of consumers which could be harmful to consumers. comment by aaa coming out to say the decision to allow...
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my father-in-law, for example, is 87 years old and strong as an ox. anecdotally, i see that in my neighborhood when i walk every morning. stuart: does the society look old, as you walk around, is it just noticeable? >> no. you know, kids are very delighted. it is encouraging. you hear the squeals and laughter from all the schoolyards around the neighborhood. that is getting quieter. stuart: this is just fascinating. i wish we had more time. we will do this again. this extreme demographics in japan and america may be going down the same road. i find that absolutely fascinating. this is demographics. >> yes, it is. stuart: you cannot turn it around like you can turn ideology around. come and see us again. timothy geithner says the ball is in the republican core. democrats want higher taxes. after the break, a former clinton advisor defends the democrat tax me position. ♪ [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the greabarrier reef with sharks, or jumpg into the marke he goes with people he trust
my father-in-law, for example, is 87 years old and strong as an ox. anecdotally, i see that in my neighborhood when i walk every morning. stuart: does the society look old, as you walk around, is it just noticeable? >> no. you know, kids are very delighted. it is encouraging. you hear the squeals and laughter from all the schoolyards around the neighborhood. that is getting quieter. stuart: this is just fascinating. i wish we had more time. we will do this again. this extreme demographics...
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the only problem is it is still against federal law and that is a problem for growers and sellers. detail people. that is your west coast minute. dennis: no word what this is doing to the productivity rate in washington state. the f h a is in talks eat, housing secretary shaun donovan wraps up his appearance beforee the senate banking committee. cheryl: let's go to peter barnes who is standing by in washington monitoring that hearing out of d.c.. peter: republicans charge that a bailout of the faa is coming and the housing secretary cannot rule it out. shaun donovan says washington certainly is closer to one after the latest audit of the f h a founded had a capital reserve shortfall of $16.3 billion but the administration says it is too soon to say if the fha will need treasury funding to avoid a bailout. the agency is increasing fees and making other changes. >> based on all of that do you expect a taxpayer bailout as we sit here? if so when? >> based on those steps, i believe we have significantly decrease the chance of having a bailout at the end of 2013 or having to draw on the
the only problem is it is still against federal law and that is a problem for growers and sellers. detail people. that is your west coast minute. dennis: no word what this is doing to the productivity rate in washington state. the f h a is in talks eat, housing secretary shaun donovan wraps up his appearance beforee the senate banking committee. cheryl: let's go to peter barnes who is standing by in washington monitoring that hearing out of d.c.. peter: republicans charge that a bailout of the...